MARAD awards $8.75 million in Small Shipyard Grants Last year, the U.S. Department of Transportation's Maritime Administration (MARAD) announced $20.8 million in grant awards to 27 small shipyards in 20 states through the Small Shipyard Grant program. This year, though,
Berge Bulk puts Anemoi rotor sails on a Valemax Singapore-headquartered Berge Bulk reports that its 388,000 dwt Valemax ore carrier Berge Neblina is now en route to Brazil fitted with four Anemoi rotor sails. Each is 35 meters tall and has
Iraq launches maritime single window for major ports Iraq is accelerating its digitalization efforts with plans to implement a maritime single window at the major ports of Um Qasr (North and South). From 30 June to 4 July, a team of experts from the International Maritime Organization (IMO) conducted a mission in Basra to assess the support needed for Iraq to achieve its goals. As of 1 January 2024, all IMO Member States must use a one-stop digital
Record-breaking demand for ocean container shipping adds to perfect storm in market Global demand for ocean freight container shipping hit an all-time record in May amid soaring spot rates and severe port congestion. The 15.94 million TEUs transported by ocean in May beats the previous record of 15.72 million TEUs set in May 2021, according to data released by Xeneta and Container Trades Statistics. The record levels of demand in May brings year-to-date volumes to just under 74
Hapag-Lloyd raises full-year earnings outlook after H1 results German ocean carrier Hapag-Lloyd raises its earnings outlook for the current financial year after the announcement of its half year figures. Based on preliminary and unaudited results, Hapag-Lloyd achieved a Group EBITDA of approximately US$2 billion and Group EBIT of approximately US$900 million, decreased from US$3.8 billion and US$2.8 billion, respectively, in 2023 H1. "Because recent strong d
PSA's initiatives to mitigate global supply chain disruptions Since early 2024, PSA Singapore (PSA) has substantially bolstered its operational capacities to accommodate heightened activity and mitigate the impacts of global supply chain disruptions. Initiatives undertaken include reinforcing frontline capabilities, launching new berths at Singapore's Tuas Port, and reactivating berths and yard space at Keppel Terminal. Consequently, the average port wait t
cargo-partner expands intermodal transport network across Europe and Türkiye Besides offering rail transport solutions between Asia and Europe, the international transport and logistics provider cargo-partner now extends intermodal services to and from various European countries, including Türkiye, the United Kingdom and Ireland. Responding to the persistent truck driver shortage and frequent road congestion at European borders, cargo-partner has introduced a comprehensiv
Maersk ship unscathed after Houthi attack Maersk Line has confirmed that Houthi rebels have attacked another of its US-flagged ships. The 2007-built 6,648 TEU Maersk Sentosa was hit by missiles while underway in the Arabian Sea. A Maersk spokesperson told Container News , "We can confirm that vessel Maersk Sentosa (operated by Maersk Line, Limited, a subsidiary of Maersk and operating US-flagged vessels) reported being targeted by a flyi
MPA and NYK partner for maritime sustainability and digitalization Maritime and Port Authority of Singapore (MPA) and Nippon Yusen Kabushiki Kaisha (NYK) have signed a memorandum of understanding (MoU) to strengthen their partnership and advance maritime decarbonization, digitalization, and manpower development. The MoU was signed by Teo Eng Dih, chief executive of MPA and Takaya Soga, president and group chief executive of NYK, on 2 July 2024. Aligned with the
IRCLASS Academy delivers first Port Facility Security Internal Auditor Training Program IRCLASS Academy, the training division of the Indian Register of Shipping, successfully concluded the inaugural Port Facility Security Internal Auditor Training Program at Rashtriya Raksha University's School of Integrated Coastal and Maritime Security Studies in Ahmedabad. This programme also included extensive training for Port Facility Security Officers. The opening ceremony was honoured by Dr
Freightos Weekly Update: Rates keep climbing on early month increases Ocean rates out of Asia climbed significantly last week, with the latest daily prices already at US$8,200/FEU to North America West Coast, US$9,300/FEU to the East Coast, US$8,600/FEU to North Europe and US$7,900/FEU to the Mediterranean. Peak season demand coinciding with Red Sea-driven capacity constraints and congestion has now pushed Asia - North America West Coast spot rates 60% higher than
WinGD completes type approval for new compact engine Swiss marine power company WinGD has completed type approval and factory acceptance testing for its X52-S2.0 engine, providing ship owners with a new option in compact, medium-bore two-stroke engines. Testing at Yuchai Marine Power Co (YCMP) confirmed the engine's performance and compliance, while the prototype project demonstrated ease of assembly and maintenance. The X-S series, which follows t
German port workers strike ahead of next round of negotiations The collective agreement negotiations between terminals and unions in Germany have been ongoing for several weeks, resulting in strike action from union members at the ports of Bremerhaven and Hamburg. Before the next round of negotiations get under way on 11 and 12 July, Berlin-based trade union Ver.di has called for warning strikes across terminals. The Port of Hamburg (besides Frucht Terminal)
Port of Long Beach appoints new director of Project Controls On 1 July, the Long Beach Board of Harbor Commissioners approved the appointment of Ashley Morteboy as the head of the Project Controls Division at the Port of Long Beach, the second-busiest seaport in the United States. Morteboy's appointment will take effect on 29 July. As the director of Project Controls, Ashley Morteboy will be responsible for establishing and tracking schedules, budgets, and
X-Press Feeders launches Europe's first green methanol feeder network X-Press Feeders, the world's largest independent common carrier, has launched Europe's first scheduled feeder network powered by green methanol. This sustainable marine fuel can reduce greenhouse gas emissions by up to 65%. "Today marks a significant milestone in sustainable shipping in Europe because companies here now have a regularly scheduled network that can ship goods in a way that has less
Port of New York and New Jersey nears 800,000 TEUs in May For the third consecutive month, the Port of New York and New Jersey has surpassed a total volume of 700,000 TEUs, marking a significant milestone. In May, the US port also achieved the number one position in the United States for total TEUs and total loaded TEUs. The total volume for May reached 790,758 TEUs (439,593 containers), reflecting a 16.9% increase from the 676,311 TEUs (376,449 contain
Port Houston resumes operations after Hurricane Beryl Port Houston in Texas has resumed operations on Wednesday, July 10, after being shut down since Monday because of Hurricane Beryl. Beryl was a Category 1 hurricane as it made landfall on the Texas Gulf Coast on Monday morning, July 8, but it became a tropical depression as it moved inland. As the storm barreled through, the region and the Houston area experienced sustained winds and heavy rain, a
Saltchuk wraps up takeover of US tanker owner OSG Saltchuk Resources has completed its takeover of the Jones Act tankers and oil tug barges owner and operator, Overseas Shipholding Group (OSG). The privately owned Seattle-based company, which also controls TOTE and Foss, has acquired all shares not already owned for $8.50 per share in cash at an enterprise value of about $950m. Saltchuk first ...
Duisburg starts handling Ukrainian grain transshipments Due to Russian attacks on Odesa, which have happened many times until now, Ukraine started transshipping its corn through the German port of Duisburg. Even today, Odesa suffered another hit in the early hours of the day that resulted in the deaths of a truck driver and a port worker. Another port worker was injured. ...
Monjasa grows owned tanker fleet with double acquisition Danish bunker supplier and tanker owner Monjasa has purchased two secondhand tankers to bolster its operations in West Africa. The 2004-built 17,200 dwt Monjasa Rover, acquired as Fure Nord from Furetank, and the 2009-built 7,900 dwt Monjasa Hunter, picked up from Christiania Shipping as Annelise Theresa, have joined the fleet as the region sees increased ...
Western Bulk nets $4.5m from sale of modern ultramax Norwegian dry bulk operator Western Bulk Chartering has bagged around $4.5m in profits from the sale of a 2019-built ultramax. The Western Oslo has been offloaded to an undisclosed buyer after the Oslo-listed company exercised a purchase option at Nisshin Shipping. "It stands as a testament to our team's expertise and strategic approach, enabling us ...
Filipino crew rescued from listing vessel near Cape Town An 18-strong crew has been rescued after evacuating in a life raft from the general cargo vessel Ultra Galaxy, listing in the Atlantic Ocean near South Africa. According to the South African Maritime Safety Authority (SAMSA), the rescue effort started very early on Monday after an emergency position indicating radio beacon alert from the vessel, ...
Asyad Shipping in for four VLCCs at Hanwha Ocean Oman's Asyad Shipping has been tipped to be the company booking four VLCC newbuilds at Hanwha Ocean. Multiple brokers have placed the Omani owner behind the recently divulged deal by the South Korean shipbuilder worth around $520m, with deliveries set for 2026 and the first quarter of 2027. Asyad boasts a fleet of more than ...
Houthi campaign returns in earnest The Houthi campaign against merchant shipping is back in earnest following a pause at the start of the month. Splash reported yesterday on an attack on the Maersk Sentosa in the Gulf of Aden, far away from the Yemeni coastline - the first confirmed attack in July. The United Kingdom Maritime Trade Operations (UKMTO) said ...
CMA CGM invests in French quantum computing company CMA CGM has invested in Pasqal, a French quantum computing firm, with the aim of developing optimisation solutions for maritime and logistics. Details on the size of the investment have not been revealed. This strategic partnership will lead to the creation of a Quantum Center of Excellence at TANGRAM, CMA CGM's training centre in Marseille, ...
Clean energy sector to invest $65bn in US offshore wind by 2030 The clean energy sector is projected to invest $65bn in US offshore wind projects by 2030, which will support 56,000 jobs, according to a new report by the American Clean Power Association (ACP). The ACP said in its 2024 Offshore Wind Market Report that there were currently 12GW of projects with active offtake agreements, including ...
New Times Shipbuilding presses ahead with new drydock construction New Times Shipbuilding, one of China's largest privately owned shipyards, has received local government approval to build another drydock, and has already sold a number of slots for the new facility. New Times has sealed a string of containership orders for the new 700 m long drydock in recent weeks for delivery in 2027 ...
TS Lines reenters transpacific trades Taiwan's TS Lines is reentering the transpacific trades for the third time, one of a raft of smaller carriers tempted by today's sky-high freight rate environment. Alphaliner is reporting the carrier will deploy a couple of extra loaders to the US west coast later this month before establishing a vessel-sharing agreement with Singapore's SeaLead Shipping ...
Ro/ro market still sizzling despite added tonnage, tariff threats Automobile shipments, especially electric vehicles from China, are strong, while high container rates and capacity shortages are pushing breakbulk, project cargo and equipment shippers toward the ro/ro sector.
Changing booking environment for ocean freight key to DCSA's traction Electronic booking standards across ocean carriers would make it easier for shippers and forwarders to do business with a range of capacity providers, says the Digital Container Shipping Association.
Capacity overplay, dipping volumes put elevated China-India rates in reverse Forwarders cited two plausible factors for the price move - excess capacity pumped into the market and a moderation in cargo booking demand due to improved shipper inventory levels.
German container ports hit by two-day 'warning' strikes An ongoing wage dispute between the ver.di union and port employers is continuing to disrupt operations at some of the busiest container shipping hubs in North Europe.
Infrastructure, green energy projects to boost Houston breakbulk activity Spillover talk is surfacing, but a shift has yet to materialize at Port Houston while oil and gas-related steel demand is on the downswing as rig counts drop.
INTTRA platform market share loss suggests new landscape for ocean freight booking Shippers and forwarders now have a range of options to book with ocean carriers, who themselves have developed direct online portals to lure smaller ocean freight buyers.
US retailers upgrade import forecast for sixth straight month amid strong sales The revised forecast from the National Retail Federation comes as US consumer spending remains strong despite higher prices for merchandise and various supply chain challenges that have increased shipping costs.
Charleston clears vessel backlog, but expects some delays through November The port was able to clear all the recently anchored vessels, helped by a temporary reopening of all Wando Welch's berths last week amid a 10-day pause in project work.
ESG advocate BlackRock doubles stake in offshore vessel giant Tidewater to $600m World's largest asset manager has become largest holder in Texas-based OSV provider
Container sale and purchase transactions slowing after busy first half Alphaliner lists MSC as the largest buyer and Maersk among biggest sellers
Danaos Corp lifts latest neo-panamax newbuilding order tally Greek shipowner has added a seventh 8,258-teu vessel to its orderbook
DHT bags rare VLCC time charter VLCC period fixtures have been slow to come by in 2024
First-half capesize S&P deals hit record high powered by Chinese and Greek buyers Far Eastern players dominate acquisitions in what has been an unprecedented period for big bulkers
HD KSOE lands $250m VLGC order South Korean group reaches 122 ship orders for 2024
New digital scheme aims to attract more women and young people to seafaring careers Shipping bodies launch digitalisation campaign to aid seafarer retention and recruitment
Saltchuk seals $950m OSG takeover after two-thirds of investors tender shares Tanker owner to become seventh business unit in sprawling maritime conglomerate
Shipbuilding giant HD KSOE lands $250m order for VLGCs to continue hot streak HD Hyundai Heavy Industries arm reaches 122 ship orders for 2024
'World's largest cement carrier' ordered by shipowner NovaAlgoma Joint-venture partners opt for methanol dual-fuel with newbuild order
Gianluigi Aponte circles as Kmarin eyes container ship exit at benchmark price South Korean owner said to be selling last two boxships to MSC
Why didn't Tony sell at the top? Ardmore Shipping heads first-half tanker shares rally This week's Streetwise takes a look at second-quarter share performance for shipping stocks
'Sustainable shipping milestone': X-Press Feeders launches first bio-methanol boxship in Northern Europe Fleet of bio-methanol fuelled feeder vessels will operate out of Rotterdam
Tankers return to Texas terminal after storm Beryl swerves south Short-term disruption unwinding as rates remain stable
Evangelos Marinakis adds $1.25bn container ship order to huge newbuilding drive Deal marks the first time Capital Maritime has ordered boxships in China
Monjasa raids Christiania and Furetank for tankers as Red Sea chaos boosts demand Danish bunker group now has more owned ships than chartered vessels for the first time
Western Bulk banks big profit after flipping ultramax in deal with Japanese shipowner Operator said deal displays its 'commercial acumen'
John Fredriksen builds DOF Group stake to $141m ahead of Maersk Supply takeover Tycoon's investment in offshore vessel owner's private placement lifts him above Bank of New York Mellon
Reborn shipyard Hengli Heavy banks $1.3bn from parent to fuel expansion efforts Shipbuilding and steel processing capacity to be expanded after order streak
Attacks in vital shipping waterway slashed and raiders left empty-handed In the majority of incidents, crew were uninjured with perpetrators escaping empty-handed
New container shipping boom promises to push Hapag-Lloyd operating profit over €2bn World's fifth-largest liner carrier earns as much as $4.6bn on strong demand
TRF selldown extends with disposal of product tanker pair Reported sales brings deal total to 12 over last 10 months
Saverys family orders sixth hydrogen powered offshore wind vessel Deal completes series of newbuildings due from 2025
Braemar boss James Gundy sitting on £2.6m stake after share award CEO sells some vested stock to meet tax liabilities under bonus plan
Big deals and fierce competition: How Danske Bank is tackling shipping in a bull market Global head of shipping Einar Stavrum sees loan book as stable
Raft of tanker newbuildings flow to N2 Tankers pool enjoying 'really exciting' results Boutique aframax operator is also looking at growth through long-term charters and new shipowner partners
NYK strikes mega deal to buy 40-plus ship fleet from Eneos Ocean Eneos Ocean will retain a minority stake in new company set up to take over its VLGCs, bulkers and product tankers
NYK Line teams with MPA in sustainability and manpower initiative Duo hope tie up will accelerate collaboration on ammonia-fuelled vessels and other sustainability-linked skills
Salvors rush to save stricken Ultrabulk vessel off west coast of South Africa South African authorities say all 18 crew of Ultra Galaxy have been safely rescued
Eastern Pacific tanker heads to Senegal as crude exports ramp up Analysts tip production to hit 80,000 barrels per day next year for Africa's newest exporter
Extreme weather blocks vessel traffic around South Africa Extremely rough seas have made it impossible for commercial shipping to operate around the lower end of South Africa, adding to supply chain disruptions.
German startup grabs pre-seed funding for container logistics platform Northbound looks to expand its product development after raising $1.4 million in funds.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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